Stocks Mixed Amid Ease In Trade Tension With China

December 13, 2018 9:24AM CST

The overnight stock markets were generally mixed with China and the U.S. coming in higher on reports of an arrangement that China will purchase 2 million tonnes of U.S. soybeans. This arrangement helps ease some of the tensions from the U.S./China trade standoff. Treasuries and the dollar edged higher as U.S. jobless claims came in below estimates. The claims dropped to 206,000 while Reuters had forecasted 225,000, this is near a 49-year low.  European stocks rallied slightly after UK Prime Minister May won a no-confidence vote and Italian Prime Minister Conte put forward a cut in the deficit target, both should ease tensions in the EU.  However, May did not come out unscathed as the Wednesday vote had one third of lawmakers voting to remove her.  After hour earnings are highlighted by Adobe and Costco.

Support today is 262000 and 260000 with resistance coming in at 267500 and 271000.

E-Mini S&P 500 Dec '18 Daily Chart

E-Mini S&P 500 Dec '18 Daily Chart

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